The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1887-08-18
NO. 47.
CARLOADS OF MONEY.
THE AMOUNT OF MONEY I'm THE
NATIONAL TREASURY.

THE AMOUNT OF MONEY I'm THE
NATIONAL TREASURY.
Some Startling Figures About the Quanti-
ty of Money in the United States Treasu-
| ry--The Public Debt Half Paid.
WASHINGTON, August Few persons,
perhaps, who read the frequently pub
'ished reports of the fiscal operations of
the government give any consideration
to the vastness and significance of these
operations. We read of the hundreds
of millions of gold and silver in the
treasury, but how few persons have any
Intelligent idea of what is embraced in
the nine figures required to describe the
liabilities and assets of the government?
1t is only when the auriferous contents
OF tho treasury vaults are weighed and
measured and placed by the side of arti-
cles and commodities that are daily
handled by the masses that an Intelligent
comprehension can bo obtained by the
people Of the financial strength of the
treasury and the great extent of the gov
ernment's fiscal operations.
L find by reference to the latest pub
Iished statement of treasury assets and
liabilities that among the assets was
G2Sl, ,096,31 in gold and nearly $780,
100000 in silver, including 81, 900, 600
OF trade dollars and fractional coins.
Taking up this 1921, 900, coo of gold and
placing it on scales, L find that the gold
held by the treasury weighed 519 tons,
and If packed into ordinary carts, one
ton to each cart it would make o pro-
cession two miles long, allowing twenty
feet OF space for the movement of each
horse and cart.
The weighing of the silver produces
much moro interesting results. Running
tins over the scales [ find its weight to
be 1886 tons. Measuring it in carts, as
III the case of the gold, the silver now
held by the treasury would require the
services OF 1896 horses and carts to
transport it and would make procession
over twcnty-one miles in length.
The surplus about which SO much is
said in the daily newspapers amounts to
nearly $47,00O,000, an increase of
o,OOO,0OO since July l. Counted as
gold this surplus would weigh eighty
SIX and one-half tons. Counted as silver
it would weigh 1886 tons.
Each million Of gold adds 3, ,G85 pounds
to the surplus, and each million of silver
adds $3.50 pounds.
Applying cubic measurement to the
treasury gold and silver, and piling the
two metals on Pennsylvania avenue as
cordwood is piled before delivery to the
purchaser, find that the gold would
measure tLlrty-scVon cords and the silver
1872 cords, and that both would extend
from the treasury department to A
street, or from the treasury to the pom
sion Office in q straight line, and forming
a solid wall eight feet high and four feet
broad.
Extending these calculations and COM
PARSONS to the interest bearing debt,
equally Interesting results arc obtained,
The public debt reached the highest
point in August, lSG5-just twenty two
years agO-When it was 81, 1881, $40, ,295,
The general reader will better appreciate
the vastness of this sum when Informed
that it represents 70, 1856 tons of silver,
winch would make procession of carts
that would extend from Richmond, Va,
to point twelve miles north Of Phila-
d5lphla, the distance it would thus coyor
icing 2GG miles.
The interest bearing debt is now (not
including the Pacific Railroad bonds),
$l,OOl ,976,S5O, showing that the sum
paid has been $l,379, 553, 445, or moro
than one-half of the total amount, and
representing 10,G37 tons of silver dollars,
which would extend 154 miles if packed
Ill carts containing one ton each. I
Reducing these figures to a basis
where they may be intelligently COM
pretended, and that the rapidity with
which the government has reduced it's
bonded debt may be fully realized by
the general reader, find that the reduc-
ton has been at the average rate of
$G2, COG, 9G5 each year, $5, 225, ,581 each
month, $l74, 1856 each day, $7,258 each
hour, and $l20.47 for every minute of
the cntiro twenty-five years.
Pursuing the calculation to the smallest
divisible space of time, the bonded debt
of the United States has been decreased
at tho rate of $2O.O7 every second, or for
every swing of the pendulum, for the
entire period from August 81, 1865, to
July 81, 1887.
This is an exhibition Of recuperation
and material progress on the part of the
country and Of sterling honesty and in
tcgrity on the part of the government
and people that is without parallel in the
worlds history.